The City of Quesnel had a surplus of more than 833 thousand dollars in 2016.
Director of Finance Kari Bolton delivered that piece of good news at last night’s City Council meeting.
Some of that money will be used to offset a potential larger than expected tax increase for 2017…
“So the City has received the revised assessment role from B.C. Assessment. This year the changes were a bit more substantial than usual due to a large change to a utility folio. The loss in assessment increases the tax increases to residents from $30.48 per 100 thousand to 33.66 per 100 thousand.”
Only Councillor Scott Elliott was opposed to using the surplus.
He preferred to try and find the savings within the budget.
As for the rest of the surplus…Council decided to establish a snow reserve with the nearly 174 thousand dollars it saved in that area this year, 300 thousand will go into the Equipment Reserve Fund and the remaining 264 thousand will go into the Capital Reinvestment Reserve.